Overview
- TickerWTBA on Nasdaq2
- IndustryState Commercial Banks2
- HeadquartersWest Des Moines, United States2
- Incorporated inIA3
- Business address3330 Westown Parkway, West Des Moines, Ia 502663
- Filer categoryAccelerated filer3
- Legal formProfit Corporation2
- LEI549300GKFOINCHIYU6662
- StatusActive2
- LEI statusIssued and current2
- Registered addressC/O JOHN F MCKINNEY III, 50266 West Des Moines, United States2
- Registered withBusiness Services Division (Secretary of State), 851662
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West Bancorporation, Inc. (the Company or West Bancorporation) is an Iowa corporation and a financial holding company registered under the Bank Holding Company Act of 1956, as amended (BHCA). The Company was formed in 1984 to own West Bank, an Iowa-chartered bank headquartered in West Des Moines, Iowa. West Bank is a business-focused community bank that was organized in 1893. The Company’s primary activity during 2025 was the ownership of West Bank. The Company’s and West Bank’s only business is banking, and therefore, no segment information is presented in this report. For additional information regarding the Company’s segment reporting, see Note 1 of the Notes to the Consolidated Financial Statements included in Item 8 of this Form 10-K .5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Fiduciary and Trust brought in 47% of the revenue WEST BANCORPORATION INC broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Fiduciary and Trust | $3.1M | $3.4M | $3.4M |
| Deposit Account | $1.9M | $1.8M | $1.9M |
| Debit Card | $2.0M | $1.9M | $1.9M |
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Loans, including fees | $166.8M | $166.2M | $142.9M |
| Taxable | $10.5M | $13.0M | $13.7M |
| Tax-exempt | $2.9M | $3.2M | $3.5M |
| Deposits with banks | $9.4M | $7.6M | $169.0K |
| Securities purchased under agreements to resell | $2.6M | $0 | $0 |
| Total interest income | $192.2M | $190.1M | $160.3M |
| Deposits | $87.8M | $97.3M | $66.8M |
| Federal funds purchased and other short-term borrowings | $0 | $4.2M | $9.5M |
| Subordinated notes | $4.4M | $4.4M | $4.4M |
| FHLB advances | $9.1M | $10.3M | $7.7M |
| Long-term debt | $2.0M | $2.4M | $2.8M |
| Interest expense | $103.2M | $118.7M | $91.3M |
| Net interest income | $89.0M | $71.4M | $69.0M |
| Credit loss expense (benefit) | $0 | $1.0M | $700.0K |
| Net interest income after credit loss expense | $89.0M | $70.4M | $68.3M |
| Increase in cash value of bank-owned life insurance | $1.2M | $1.1M | $1.0M |
| Gain from bank-owned life insurance | $0 | $0 | $691.0K |
| Loan swap fees | $0 | $0 | $431.0K |
| Securities (gains)losses, net | -$4.0M | -$1.2M | -$431.0K |
| Other income | $1.8M | $1.3M | $1.4M |
| Total noninterest income | $6.3M | $8.4M | $10.1M |
| Salaries and employee benefits | $29.4M | $27.6M | $27.1M |
| Occupancy and equipment | $8.2M | $7.3M | $5.5M |
| Data processing | $2.6M | $3.0M | $2.8M |
| Technology and software | $3.2M | $2.9M | $2.3M |
| FDIC insurance | $2.4M | $2.6M | $1.8M |
| Professional fees | $1.2M | $1.0M | $1.0M |
| Other expenses | $6.9M | $7.0M | $8.1M |
| Total noninterest expense | $53.8M | $51.4M | $48.6M |
| Income before income taxes | $41.4M | $27.4M | $29.8M |
| Income taxes | $8.9M | $3.4M | $5.6M |
| Net income | $32.6M | $24.1M | $24.1M |
| Basic earnings per common share | $1.92 | $1.43 | $1.44 |
| Diluted earnings per common share | $1.92 | $1.42 | $1.44 |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and due from banks | $25.2M | $28.8M | ||
| Interest-earning deposits with banks | $324.5M | $214.7M | ||
| Securities purchased under agreements to resell | $121.4M | $0 | ||
| Cash and cash equivalents | $471.1M | $243.5M | ||
| Securities available for sale, at fair value | $468.4M | $544.6M | ||
| Federal Home Loan Bank stock, at cost | $15.2M | $15.1M | ||
| Loans | $3.0B | $3.0B | ||
| Allowance for credit losses, excluding accrued interest | -$30.5M | -$30.4M | ||
| Loans, after allowance for credit losses | $3.0B | $3.0B | ||
| Premises and equipment, net | $108.4M | $110.0M | ||
| Accrued interest receivable | $12.0M | $12.8M | ||
| Bank-owned life insurance | $46.2M | $45.0M | ||
| Deferred tax assets, net | $25.9M | $33.2M | ||
| Other assets | $23.9M | $36.4M | ||
| Total assets | $4.1B | $4.0B | ||
| Noninterest-bearing demand | $540.4M | $541.1M | ||
| Interest-bearing demand | $577.8M | $543.9M | ||
| Savings and money market | $1.8B | $1.6B | ||
| Time | $510.8M | $628.8M | ||
| Total deposits | $3.5B | $3.4B | ||
| Subordinated notes, net | $80.2M | $79.9M | ||
| Federal Home Loan Bank advances | $270.0M | $270.0M | ||
| Long-term debt | $26.2M | $42.7M | ||
| Accrued expenses and other liabilities | $31.4M | $36.9M | ||
| Total liabilities | $3.9B | $3.8B | ||
| Preferred stock, $0.01 par value; authorized 50,000,000 shares; no shares issued and outstanding at December 31, 2025 and 2024 | $0 | $0 | ||
| Common stock, no par value; authorized 50,000,000 shares; 16,940,785 and 16,832,632 shares issued and outstanding at December 31, 2025 and 2024, respectively | $3.0M | $3.0M | ||
| Additional paid-in capital | $37.2M | $35.6M | ||
| Retained earnings | $294.3M | $278.6M | ||
| Accumulated other comprehensive loss | -$68.5M | -$89.4M | ||
| Total stockholders equity | $266.0M | $227.9M | $225.0M | $211.1M |
| Total liabilities and stockholders equity | $4.1B | $4.0B | ||
| Preferred stock, par value ($ per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized | 50.0M shares | 50.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, no par value | $0 | $0 | ||
| Common stock, share authorized | 50.0M shares | 50.0M shares | ||
| Common stock, share issued | 16.9M shares | 16.8M shares | ||
| Common stock, shares outstanding | 16.9M shares | 16.8M shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and due from banks | $25.2M | $28.8M | ||
| Interest-earning deposits with banks | $324.5M | $214.7M | ||
| Securities purchased under agreements to resell | $121.4M | $0 | ||
| Cash and cash equivalents | $471.1M | $243.5M | ||
| Securities available for sale, at fair value | $468.4M | $544.6M | ||
| Federal Home Loan Bank stock, at cost | $15.2M | $15.1M | ||
| Loans | $3.0B | $3.0B | ||
| Allowance for credit losses, excluding accrued interest | -$30.5M | -$30.4M | ||
| Loans, after allowance for credit losses | $3.0B | $3.0B | ||
| Premises and equipment, net | $108.4M | $110.0M | ||
| Accrued interest receivable | $12.0M | $12.8M | ||
| Bank-owned life insurance | $46.2M | $45.0M | ||
| Deferred tax assets, net | $25.9M | $33.2M | ||
| Other assets | $23.9M | $36.4M | ||
| Total assets | $4.1B | $4.0B | ||
| Noninterest-bearing demand | $540.4M | $541.1M | ||
| Interest-bearing demand | $577.8M | $543.9M | ||
| Savings and money market | $1.8B | $1.6B | ||
| Time | $510.8M | $628.8M | ||
| Total deposits | $3.5B | $3.4B | ||
| Subordinated notes, net | $80.2M | $79.9M | ||
| Federal Home Loan Bank advances | $270.0M | $270.0M | ||
| Long-term debt | $26.2M | $42.7M | ||
| Accrued expenses and other liabilities | $31.4M | $36.9M | ||
| Total liabilities | $3.9B | $3.8B | ||
| Preferred stock, $0.01 par value; authorized 50,000,000 shares; no shares issued and outstanding at December 31, 2025 and 2024 | $0 | $0 | ||
| Common stock, no par value; authorized 50,000,000 shares; 16,940,785 and 16,832,632 shares issued and outstanding at December 31, 2025 and 2024, respectively | $3.0M | $3.0M | ||
| Additional paid-in capital | $37.2M | $35.6M | ||
| Retained earnings | $294.3M | $278.6M | ||
| Accumulated other comprehensive loss | -$68.5M | -$89.4M | ||
| Total stockholders equity | $266.0M | $227.9M | $225.0M | $211.1M |
| Total liabilities and stockholders equity | $4.1B | $4.0B | ||
| Preferred stock, par value ($ per share) | $0.01 | $0.01 | ||
| Preferred stock, shares authorized | 50.0M shares | 50.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares | ||
| Common stock, no par value | $0 | $0 | ||
| Common stock, share authorized | 50.0M shares | 50.0M shares | ||
| Common stock, share issued | 16.9M shares | 16.8M shares | ||
| Common stock, shares outstanding | 16.9M shares | 16.8M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.6
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $32.6M | $24.1M | $24.1M |
| Credit loss expense (benefit) | $0 | $1.0M | $700.0K |
| Net amortization and accretion | $3.1M | $3.2M | $3.3M |
| Securities (gains)losses, net | $4.0M | $1.2M | $431.0K |
| Stock-based compensation | $2.7M | $2.5M | $3.1M |
| Increase in cash value of bank-owned life insurance | -$1.2M | -$1.1M | -$1.0M |
| Gain from bank-owned life insurance | $0 | $0 | $691.0K |
| Depreciation | $4.5M | $3.7M | $1.9M |
| Provision for deferred income taxes | $352.0K | $3.0M | $447.0K |
| (Increase) decrease in accrued interest receivable | $843.0K | $756.0K | -$1.6M |
| (Increase) decrease in other assets | $1.1M | -$1.4M | -$2.8M |
| Increase (decrease) in accrued expenses and other liabilities | -$1.5M | $3.0M | -$2.6M |
| Cash Provided by (Used in) Operating Activity, Including Discontinued Operation | $46.5M | $39.8M | $25.2M |
| Proceeds from sales of securities available for sale | $63.7M | $11.8M | $11.3M |
| Proceeds from principal paydowns, maturities and calls of securities available for sale | $41.2M | $56.4M | $42.4M |
| Purchases of Federal Home Loan Bank stock | -$324.0K | -$57.7M | -$115.5M |
| Proceeds from redemption of Federal Home Loan Bank stock | $286.0K | $65.5M | $111.9M |
| Net increase in loans | -$8.2M | -$77.2M | -$184.8M |
| Proceeds of principal and earnings from bank-owned life insurance | $0 | $0 | $2.5M |
| Purchases of premises and equipment | -$3.3M | -$26.1M | -$36.4M |
| Net Cash Provided by (Used in) Investing Activities, Total | $93.3M | -$27.3M | -$168.7M |
| Net increase in deposits | $110.9M | $383.8M | $93.4M |
| Net decrease in federal funds purchased and other short-term borrowings | $0 | -$150.3M | -$49.7M |
| Net increase (decrease) in Federal Home Loan Bank advances | $0 | -$45.0M | $160.0M |
| Principal payments on long-term debt | -$5.0M | -$5.0M | -$3.8M |
| Common stock dividends paid | -$16.9M | -$16.8M | -$16.7M |
| Restricted stock units withheld for payroll taxes | -$1.1M | -$1.1M | -$935.0K |
| Cash Provided by (Used in) Financing Activity, Including Discontinued Operation | $87.8M | $165.7M | $182.3M |
| Net increase (decrease) in cash and cash equivalents | $227.6M | $178.1M | $38.8M |
| Cash payments for interest | $106.3M | $117.0M | $87.8M |
| US federal income taxes paid | $4.3M | $370.0K | $3.9M |
| Iowa income taxes paid | $440.0K | $630.0K | $1.2M |
| Minnesota income taxes paid | $820.0K | $480.0K | $590.0K |
No quarter-by-quarter statement was filed.
Corporate structure
WEST BANCORPORATION INC sits at the top of its group. 3 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of WEST BANCORPORATION INC
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on WEST BANCORPORATION INC, latest Mar 27, 2026 (2 filings since Oct 31, 2025)
- FMR LLC Filed SC 13G/A on WEST BANCORPORATION INC, latest Feb 9, 2024 (2 filings since Feb 9, 2023)
- BlackRock Filed SC 13G/A on WEST BANCORPORATION INC, latest Jan 26, 2024 (3 filings since Feb 3, 2022)
- WEST BANCORPORATION INC West Des Moines, Iowa, United States
- West Bancorporation Capital Trust I Subsidiary · Delaware, United States
- West Bank Subsidiary · West Des Moines, Iowa, United States
Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What WEST BANCORPORATION INC reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $125.3M6 Dec 31, 2025 | $122.6M6 Dec 31, 2024 | +2.2% |
| Accumulated depreciation | $16.9M6 Dec 31, 2025 | $12.6M6 Dec 31, 2024 | +33.9% |
| Property and equipment, net | $108.4M6 Dec 31, 2025 | $110.0M6 Dec 31, 2024 | −1.5% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Debt securities available for sale | $468.4M6 Dec 31, 2025 | $544.6M6 Dec 31, 2024 | −14.0% |
| Deposits held (banks) | $3.5B6 Dec 31, 2025 | $3.4B6 Dec 31, 2024 | +3.3% |
Properties, in its own words
The corporate office of the Company is located in the headquarters building of West Bank, at 3330 Westown Parkway in West Des Moines, Iowa, 50266. West Bank operates ten branch offices in addition to its headquarters office. Four branch offices in the Des Moines, Iowa, metropolitan area are leased. Three of these branch offices are full-service locations, while one is a drive-up only, express location. West Bank owns six full-service branch offices in Coralville and Waukee, Iowa, and Rochester, St. Cloud, Mankato and Owatonna, Minnesota. We believe each of our facilities is adequate to meet our needs.
Item 2 of the 10-K filed Feb 26, 2026.5
Leadership
Who has led WEST BANCORPORATION INC, and when. Pick a name to see everywhere that person has worked.
Chief executive
Chief financial officer
2010201520202025
- Chief executive officerDavid D. Nelson Apr 5, 2010 to now15
- Chief executive officerThomas E. Stanberry Feb 13, 2009 to Feb 13, 200916
- ChairJack G. Wahlig Dec 1, 2009 to Dec 1, 200917
- ChairThomas E. Stanberry Feb 13, 2008 to Feb 13, 200918
- PresidentDavid D. Nelson Apr 5, 2010 to now15
- PresidentThomas E. Stanberry Feb 13, 2008 to Feb 13, 200918
- Chief financial officerJane M. Funk Mar 22, 2022 to now19
- Chief financial officerDouglas R. Gulling Nov 30, 2009 to Nov 8, 202120
Board members and other officers (26)
- Executive Vice PresidentBradley P. Peters Apr 30, 2021 to now21
- SVP / ControllerJane M. Funk May 1, 2018 to Feb 20, 202422
- SVP, CONTROLLER AND CACMarie I. Roberts Jan 22, 2015 to Jan 17, 201923
- CHIEF RISK OFFICERHarlee Olafson Aug 11, 2010 to now24
- Executive Vice PresidentBrad L. Winterbottom Jan 31, 2008 to now25
- Board memberRosemary Parson May 2, 2022 to now26
- Board memberLisa J. Elming May 3, 2021 to now27
- Board memberTherese M. Vaughan Apr 26, 2019 to now28
- Board memberMichael J. Gerdin Apr 26, 2013 to May 2, 202229
- Board memberPhilip Jason Worth Apr 26, 2013 to Apr 29, 202430
- Board memberSean Patrick McMurray Apr 26, 2013 to now31
- Board memberRobert G. Pulver Sep 6, 2012 to Apr 26, 201932
- Board memberLouann Sandburg Apr 29, 2011 to Apr 24, 202033
- Board memberSteven K. Gaer Apr 29, 2011 to now34
- Board memberDavid D. Nelson Apr 5, 2010 to now15
- Board memberFrank W. Berlin Aug 26, 2010 to Apr 27, 201835
- Board memberThomas A. Carlstrom Apr 21, 2009 to Apr 29, 201636
- Board memberKaye R. Lozier Apr 22, 2009 to Apr 27, 201837
- Board memberJames Noyce Aug 6, 2009 to now38
- Board memberDouglas R. Gulling Nov 30, 2009 to now20
- Board memberBrad L. Winterbottom Dec 1, 2009 to Feb 3, 201139
- Board memberConnie Wimer Feb 6, 2007 to Feb 6, 200740
- Board memberGeorge D. Milligan Feb 14, 2007 to now41
- Board memberMichael A. Coppola May 3, 2007 to May 11, 200742
- Board memberWendy L. Carlson May 10, 2007 to May 10, 200743
- Board memberSteven G. Chapman May 16, 2007 to May 16, 200744
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Jul 23, 20268-K Results of operations; Regulation FD disclosure45
- Apr 24, 20268-K Shareholder vote46
- Apr 23, 20268-K Results of operations; Regulation FD disclosure47
- Jan 29, 20268-K Results of operations; Regulation FD disclosure48
- Oct 23, 20258-K Results of operations; Regulation FD disclosure49
- Oct 17, 20258-K Executive or director change50
- Jul 24, 20258-K Results of operations; Regulation FD disclosure51
- Jun 12, 20258-K Regulation FD disclosure52
- Apr 25, 20258-K Shareholder vote53
- Apr 24, 20258-K Results of operations; Regulation FD disclosure54
- Jan 23, 20258-K Results of operations; Executive or director change; Regulation FD disclosure55
- Oct 24, 20248-K Results of operations; Regulation FD disclosure56
- Apr 5, 2010New chief executive David D. Nelson becomes CEO15
- Feb 13, 2009New chief executive Thomas E. Stanberry becomes CEO16
- Aug 3, 1938Founded WEST BANCORPORATION INC is founded2
Calendar
Coming up
- Oct 29, 2026 · Before the openReports results for the quarter ending Sep/2026 A year earlier it reported $0.55 a share, on Oct 23, 2025.57
When it reported results
- Jul 23, 2026Reported quarterly or annual results45
- Apr 23, 2026Reported quarterly or annual results47
- Jan 29, 2026Reported quarterly or annual results48
- Oct 23, 2025Reported quarterly or annual results49
- Jul 24, 2025Reported quarterly or annual results51
- Apr 24, 2025Reported quarterly or annual results54
- Jan 23, 2025Reported quarterly or annual results55
- Oct 24, 2024Reported quarterly or annual results56
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
263 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 34 major events, 142 insider forms, 7 large holders, 59 other. The latest 20:
- Aug 25, 2026N-PX EDGAR
- Jul 23, 202613F-HR EDGAR
- Jul 23, 20268-K EDGAR
- Jul 23, 202610-Q EDGAR
- Jun 25, 202611-K EDGAR
- Apr 24, 20264 EDGAR
- Apr 24, 20264 EDGAR
- Apr 24, 20264 EDGAR
- Apr 24, 20264 EDGAR
- Apr 24, 20264 EDGAR
- Apr 24, 20264 EDGAR
- Apr 24, 20264 EDGAR
- Apr 24, 20268-K EDGAR
- Apr 23, 202613F-HR EDGAR
- Apr 23, 20268-K EDGAR
- Apr 23, 202610-Q EDGAR
- Mar 27, 2026SCHEDULE 13G/A EDGAR
- Mar 26, 20264 EDGAR
- Mar 26, 20264 EDGAR
- Mar 26, 20264 EDGAR
The 263 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
36 open-market trades by officers, directors and large owners since October 2021: 30 buys and 6 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Nov 24, 2025 | MILLIGAN GEORGE DDirector | Sale | 10,000 | $21.71 | $217.1K | Form 4 |
| Nov 21, 2025 | MILLIGAN GEORGE DDirector | Sale | 5,826 | $22.00 | $128.2K | Form 4 |
| Nov 11, 2025 | GULLING DOUGLAS RDirector | Sale | 7,900 | $21.75 | $171.8K | Form 4 |
| Feb 19, 2025 | NELSON DAVID DCEO & PRESIDENT | Buy | 639 | $22.27 | $14.2K | Form 4 |
| Nov 20, 2024 | NELSON DAVID DCEO & PRESIDENT | Buy | 592 | $23.79 | $14.1K | Form 4 |
| Nov 8, 2024 | GULLING DOUGLAS RDirector | Sale | 4,000 | $23.61 | $94.4K | Form 4 |
| Aug 21, 2024 | NELSON DAVID DCEO & PRESIDENT | Buy | 730 | $19.04 | $13.9K | Form 4 |
| May 22, 2024 | NELSON DAVID DCEO & PRESIDENT | Buy | 768 | $17.87 | $13.7K | Form 4 |
| Feb 21, 2024 | NELSON DAVID DCEO & PRESIDENT | Buy | 2,007 | $17.55 | $35.2K | Form 4 |
| Nov 22, 2023 | NELSON DAVID DCEO & PRESIDENT | Buy | 1,906 | $18.22 | $34.7K | Form 4 |
| Aug 23, 2023 | NELSON DAVID DCEO & PRESIDENT | Buy | 1,838 | $18.66 | $34.3K | Form 4 |
| May 24, 2023 | NELSON DAVID DCEO & PRESIDENT | Buy | 1,948 | $17.23 | $33.6K | Form 4 |
| May 18, 2023 | Peters Bradley PExecutive Vice President | Buy | 1,000 | $16.42 | $16.4K | Form 4 |
| May 17, 2023 | McMurray Sean PatrickDirector | Buy | 5,000 | $16.10 | $80.5K | Form 4 |
| May 16, 2023 | NELSON DAVID DCEO & PRESIDENT | Buy | 1,000 | $15.72 | $15.7K | Form 4 |
| May 8, 2023 | MILLIGAN GEORGE DDirector | Buy | 5,000 | $16.00 | $80.0K | Form 4 |
| Mar 1, 2023 | MILLIGAN GEORGE DDirector | Buy | 5,000 | $20.99 | $105.0K | Form 4 |
| Feb 22, 2023 | NELSON DAVID DCEO & PRESIDENT | Buy | 1,474 | $21.40 | $31.5K | Form 4 |
| Nov 23, 2022 | NELSON DAVID DCEO & PRESIDENT | Buy | 1,348 | $23.15 | $31.2K | Form 4 |
| Aug 24, 2022 | NELSON DAVID DCEO & PRESIDENT | Buy | 1,189 | $26.01 | $30.9K | Form 4 |
All 36 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | David D. Nelson | $608.0K | $1.5M61 | |
| 2025 | Brad L. Winterbottom | $387.0K | $923.9K61 | |
| 2025 | Harlee N. Olafson | $387.0K | $923.9K61 | |
| 2025 | Bradley P. Peters | $335.0K | $844.1K61 | |
| 2025 | Jane M. Funk | $335.0K | $842.2K61 | |
| 2024 | President and Chief Executive Officer of the Company and Chief Executive Officer of West Bank | $590.0K | $1.2M61 | |
| 2024 | Executive VicePresident and Chief Risk Officer of the Company and Executive Vice President, Chief Risk Officer and Chief Operating Officer of West Bank | $375.0K | $770.3K61 | |
| 2024 | Executive Vice PresidentTreasurer and Chief Financial Officer of the Company and Executive Vice President and Chief Financial Officer of West Bank | $325.0K | $701.6K61 | |
| 2023 | President and Chief Executive Officer of the Company and Chief Executive Officer of West Bank | $590.0K | $1.3M61 | |
| 2023 | Executive VicePresident and Chief Risk Officer of the Company and Executive Vice President, Chief Risk Officer and Chief Operating Officer of West Bank | $375.0K | $824.6K61 | |
| 2023 | Executive Vice PresidentTreasurer and Chief Financial Officer of the Company and Executive Vice President and Chief Financial Officer of West Bank | $325.0K | $754.3K61 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How WEST BANCORPORATION INC is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARWEST BANCORPORATION INC1
- CIK0001166928
- Employer ID (EIN)42-12306035
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company5
- Incorporated inIowa5
- Fiscal year endsDecember 311
- Industry code (SIC)6022 State Commercial Banks1
- SEC reviewing officeOffice of Finance, Division of Corporation Finance1
- Business address3330 Westown Parkway, West Des Moines, IA 502661
- Phone51522223091
- Shares outstanding17,043,743 as of Jul 22, 202612
- Public float$317.4M as of Jun 30, 20255
- AuditorRSM US LLP, Des Moines, Iowa PCAOB ID 49; it also attests to the company’s internal control over financial reporting5
- On EDGAR sinceMar 11, 20021
- Filings1,116 in all: 4 (525), 8-K (228), 10-Q (74), 5 (45), DEF 14A (25), 10-K (24), 3 (24), 13F-HR (23)1
All 38 form types
11-K (22), ARS (16), UPLOAD (14), SC 13G (13), CORRESP (11), SC 13G/A (9), EFFECT (8), S-3 (7), 4/A (6), DEFA14A (6), S-8 (5), 8-K/A (4), 144 (3), N-PX (3), 424B5 (2), 5/A (2), FWP (2), PRER14A (2), S-3/A (2), 10-12G (1), 10-12G/A (1), 10-K/A (1), 10-Q/A (1), 305B2 (1), POS AM (1), PRE 14A (1), SC 13D (1), SC 13D/A (1), SCHEDULE 13G (1), SCHEDULE 13G/A (1)
- Latest filingsAnnual report (10-K) Feb 26, 2026
Quarterly report (10-Q) Jul 23, 2026
Proxy statement (DEF 14A) Mar 3, 2026
Latest 8-K (8-K) Jul 23, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, no par value | WTBA | The Nasdaq Global Select Market |
From the cover page of the 10-K filed Feb 26, 2026 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks WEST BANCORPORATION INC names in Item 1A of its 10-K filed Feb 26, 2026: 40 risks under these headings, as written.5
- Risks Related to Credit Quality
- We must effectively manage the credit risks of our loan portfolio.
- The information that we use in managing our credit risk may be inaccurate or incomplete, which may result in an increased risk of default and otherwise have an adverse effect on our business, results of operations and financial condition.
- Our loan portfolio includes commercial loans, which involve risks specific to commercial borrowers.
- Our loan portfolio includes commercial real estate loans, which involve risks specific to real estate values.
- The level of our commercial real estate loan portfolio may subject us to additional regulatory scrutiny.
- We are subject to environmental liability risk associated with real estate collateral securing our loans.
- Risks Related to Accounting Policies and Estimates
- Our allowance for credit losses may be insufficient to absorb potential losses in our loan portfolio.
- Our accounting policies and methods are the basis for how we report our financial condition and results of operations, and they may require management to make estimates about matters that are inherently uncertain.
- Changes in accounting policies or standards could materially impact our financial statements.
- If a significant portion of any unrealized losses in our portfolio of investment securities were to incur credit losses, we would recognize a material charge to our earnings, and our capital ratios would be adversely impacted.
The other 30 risks
- Failure to maintain effective internal controls over financial reporting could impair our ability to accurately and timely report our financial results and could increase the risk of fraud.
- Risks Related to Information Security and Business Interruption
- The occurrence of fraudulent activity, breaches or failures of our information security controls or cybersecurity-related incidents could have a material adverse effect on our business, financial condition, results of operations and growth prospects.
- Issues with the use of artificial intelligence in our marketplace may result in reputational harm or liability, or could otherwise adversely affect our business.
- We depend on information technology and telecommunications systems of third parties, and any systems failures, interruptions or data breaches involving these systems could adversely affect our operations and financial condition.
- Other Risks Related to West Bank’s Operations and the Economy
- We are subject to liquidity risks.
- The competition for banking and financial services in our market areas is high, which could adversely affect our financial condition and results of operations.
- Loss of customer deposits due to increased competition could increase our funding costs.
- Damage to our reputation could adversely affect our business.
- We are subject to various legal claims and litigation.
- The soundness of other financial institutions could adversely affect us.
- We may experience difficulties in managing our growth.
- Maintaining or increasing our market share may depend on lowering prices and the adoption of new products and services.
- The loss of the services of any of our senior executive officers or key personnel could cause our business to suffer.
- Labor shortages and a failure to attract and retain qualified employees could negatively impact our business, results of operations and financial condition.
- Changes in interest rates could negatively impact our financial condition and results of operations.
- Continued elevated levels of inflation could adversely impact our business, results of operations and financial condition.
- We are required to maintain capital to meet regulatory requirements, and if we fail to maintain sufficient capital, whether due to an inability to raise capital, operational losses, or otherwise, our financial condition, liquidity and results of operations, as well as our ability to maintain regulatory compliance, could be adversely affected.
- Risks Related to the Supervision and Regulation of the Banking Industry and Government Policies
- We may be materially and adversely affected by the highly regulated environment in which we operate.
- Monetary policies and regulations of the Federal Reserve could adversely affect our business, financial condition and results of operations.
- Other Risks Related to the Banking Industry in General
- Technology is changing rapidly and may put us at a competitive disadvantage.
- Consumers may decide not to use banks to complete their financial transactions, which could adversely affect our business and results of operations.
- Climate change could adversely affect our business, affect client activity levels and damage our reputation.
- Risks Related to West Bancorporation’s Common Stock
- Our stock is relatively thinly traded.
- The stock market can be volatile, and fluctuations in our operating results and other factors could cause our stock price to decline.
- Issuing additional common or preferred stock may adversely affect the market price of our common stock, and capital may not be available when needed.
- The holders of our 5.25% Fixed-to-Floating Rate Subordinated Notes due in 2032 and the holders of our junior subordinated debentures have rights that are senior to those of our common stockholders.
- Our ability to pay dividends is subject to certain limitations and restrictions, and there is no guarantee that we will be able to continue paying the same level of dividends in the future that we have paid in the past or that we will be able to pay future dividends at all.
Legal proceedings
Neither the Company nor West Bank is party to any material pending legal proceedings, other than ordinary litigation incidental to West Bank’s business, and no property of these entities is the subject of any such proceeding. The Company does not know of any proceedings contemplated by a governmental authority against the Company or West Bank.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 17SEC EDGARJack G. Wahlig, Chair
- 18SEC EDGARThomas E. Stanberry, Chair
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- 22SEC EDGARJane M. Funk, SVP / Controller
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- 24SEC EDGARHarlee Olafson, CHIEF RISK OFFICER
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- 26SEC EDGARRosemary Parson, Board member
- 27SEC EDGARLisa J. Elming, Board member
- 28SEC EDGARTherese M. Vaughan, Board member
- 29SEC EDGARMichael J. Gerdin, Board member
- 30SEC EDGARPhilip Jason Worth, Board member
- 31SEC EDGARSean Patrick McMurray, Board member
- 32SEC EDGARRobert G. Pulver, Board member
- 33SEC EDGARLouann Sandburg, Board member
- 34SEC EDGARSteven K. Gaer, Board member
- 35SEC EDGARFrank W. Berlin, Board member
- 36SEC EDGARThomas A. Carlstrom, Board member
- 37SEC EDGARKaye R. Lozier, Board member
- 38SEC EDGARJames Noyce, Board member
- 39SEC EDGARBrad L. Winterbottom, Board member
- 40SEC EDGARConnie Wimer, Board member
- 41SEC EDGARGeorge D. Milligan, Board member
- 42SEC EDGARMichael A. Coppola, Board member
- 43SEC EDGARWendy L. Carlson, Board member
- 44SEC EDGARSteven G. Chapman, Board member
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- 46SEC EDGARShareholder vote
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- 50SEC EDGARExecutive or director change
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- 52SEC EDGARRegulation FD disclosure
- 53SEC EDGARShareholder vote
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- 57NasdaqNasdaq calendar
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